STEP LEASE Definition

STEP LEASE is a type of lease that outlines or stipulates the expected annual increases in the tenants base rent based on an approximation of what the landlord believes what the landlord's expenses may be.

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BREAK-EVEN POINT is the volume point at which revenues and costs are equal; a combination of sales and costs that will yield a no profit/no loss operation.

PROFESSIONAL SERVICES are those services offered by university trained professionals, e.g. doctors, lawyers, and accountants for, normally, a professional fee.

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